Today, assessing risk of a driver may be important. The risk assessed may depend on various factors. The factors may comprise speed of the vehicle, acceleration of the vehicle, location of the vehicle, weather, or a driving time. Also, to compute the risk associated with the driver, behaviour of the driver while driving the vehicle may need to be monitored.
The risk assessed over a significant period may be further used by insurance companies to arrive at an appropriate insurance quote for the driver, or to generate a usage-based insurance model. To compute the appropriate insurance quote, a driving profile of the driver may need to be generated. There are many products that may compute the driving profile of the driver based on the risk assessed. These products essentially evaluate the risk associated with the driver by continuously recording data associated with the above-described factors. The data may be further used to assess the risk.
Assessing the risk using the data recorded can be a computationally complex task because the amount of the data recorded may be large and the data may continuously vary. Moreover, the factors to be considered for assessing the risk may differ according to the driving conditions.